Eligibility criteria

For the purpose of these Regulations, businesses are those:

1. with turnover of up to £25m
2. with an address in the United Kingdom
3. which carry out commercial activities as their principal activity
4. which are not part of a group which as a whole has an annual turnover which is equal to or greater than £25

Application for the following products are within the scope of the Regulations:

1. Overdrafts
2. Loans
3. Invoice Finance
4. Asset Finance (excluding operating leases)
5. Credit cards

You can find out more information about finance products and options with the British Business Bank and ICAEW’s Business Finance Guide.

Exclusions:

A Designated Bank will not offer a referral if any of the following apply.

• the value of the finance facility applied for is less than £1,000
• the facility applied for is sought for a period of less than 30 days
• the bank is aware that the business is subject to a statutory demand for payment, enforcement proceedings or other legal proceedings in relation to payment obligations arising under an existing finance facility
• the bank is aware that the business is subject to a formal demand
• you have declined the bank’s offer of credit solely due to price considerations.